Bruno S. Frey
Is Random Decision Making a Viable Solution for Replacing or Complementing Contemporary Selection and Election Processes?

Bruno S. Frey is a permanent Visiting Professor at the University of Basel and research director of the Centre for Research in Economics, Management and the Arts (CREMA), Switzerland. For his extensive research on political economy, corporate governance and psychological approaches to economics, Frey has been awarded five Honorary Doctorates from diverse international institutions.
Frey argues for an interdisciplinary approach to economics. His recent research combines a political and economic lens to the study of such themes as terrorism, the election system, and the psychology of awards vs monetary incentives.

Area of Research

Political Economics, Economics and Psychology, Corporate Governance, Economics of Art and Culture, Happiness

The University of Basel has an international reputation of outstanding achievements in research and teaching. Founded in 1460, the University of Basel is the oldest university in Switzerland and has a history of success going back over 550 years. As a comprehensive university offering a wide range of high-quality educational opportunities, the University of Basel attracts students from Switzerland and the entire world, offering them outstanding studying conditions as they work towards their bachelor’s, master’s or PhD degrees. Today, the University of Basel has around 13,000 students from over a hundred nations, including 2,700 PhD students. The University of Basel has seven faculties covering a wide spectrum of academic disciplines. At the same time, the university has positioned itself amidst the international competition in the form of five strategic focal areas: Life Sciences, Visual Studies, Nanosciences, Sustainability and Energy Research and European and Global Studies. (Source: University of Basel)

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Throughout history sortition was often used as an election mechanism for public executive functions. Political systems such as Ancient Athens or Venice during the middle ages elected some of the executive positions by drawing lots. In the research presented in this video BRUNO S. FREY compares those methods with actual processes such as political elections or market decisions in order to investigate the advantages and disadvantages of this model. It shows that random mechanisms lead to more representative outcomes than elections and are effective in counteracting corruption.

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